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We were instructed by receivers at Ernst & Young to initially advise on the disposal of over 100 industrial estates situated throughout the UK. Due to the challenging market and a lack of portfolio buyers, the individual sale of 31 of the estates at a single-client auction event was agreed to maximise market exposure. Each estate benefited from a dedicated advertising campaign, as well as an online facility to manage the significant volume of particulars and legal documents, which were downloaded by some 600 registered bidders. On the auction day, 100% of the properties sold to 26 individual buyers, raising a total of £43.4 million.
To learn more about the range of services we provide to banks, insolvency practitioners and restructuring professionals involved with stressed and distressed real estate visit the main Real Estate Workout page